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Velan Inc. Reports its First Quarter 2010/11 Financial Results

Velan reported lower financial results for the first quarter ended May 31, 2010, as it was negatively impacted by the strengthening of the Canadian dollar, which increased an average of 18.6% and 19.7% against the US dollar and the euro, respectively, when compared to the same quarter last year. The net earnings for the quarter were $1.1 million, and earnings per share were 5 cents.

Source: Velan

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